Business
Preparation for Assessment:
How to answer (A) questions:
a) 2 mark Short Answer Questions
Part A questions are short definition questions. For example product life cycle. We need two knowledge
points to secure both marks. An example of this is the pattern of sales and steps from launch to withdrawal
but you could use any of these knowledge points.
The key is to have two clear different points to avoid repetition. It helps to have a
definition for each key concept.
b) 3 mark Short Answer Questions
For questions in part B, you need two sound explanations, in this case of how to
extend product life cycle. So give your first point and then add a relevant example
to show clear understanding and secure the points.
For your first clearly explained extension strategy we get two points, but to secure
all 3 points you need another relevant knowledge point. Again, make sure you avoid
repetition and choose two points which are clearly different.
This combination of 2 and 3 mark questions is repeated 3 times, but you will also
get one 5 mark knowledge question.
5 mark Short Answer Questions
In 5 mark questions you usually have to explain the importance of a business
concept, often in a specific context.
For example, you may need to explain how the better management of both trade
payables and trade receivables can improve cash flow. In order to secure all 5
marks, you must effectively explain both factors.
So we start by defining trade receivables, and then explain how better management
of trade receivables can lead to improved cash flow.
Then trade payables, and then explain how better management of trade payables
can lead to improved cash flow.
It’s important to stay focused on the question, so you can repeat the question stem,
to make sure your answer precisely gives the examiner what they are looking for,
and you get all of the marks.
That is the short answer questions done, now it’s time for some exam strategy
when choosing essay questions in section B.
8 Mark Analysis Questions
Unlike paper 2 it’s not specified how many paragraphs you must complete, but from
the exemplars provided by Cambridge we can see for A) questions you should be
aiming for 3 paragraphs with chains of analysis.
If you need to develop your chain of analysis skills, we’ve got a blog that would help
you with this.
Let’s look at an example for the benefits of motivating employees. Start with the
knowledge point, then explain and apply to the business. Although it’s not strictly
necessary as this question doesn’t mention a specific business, I like to put in an
example as it shows the examiner your understanding and makes it easier to
explain your point. Finish by taking the analysis one step further.
Remember to include connectives – because, leads to, therefore, so that, as a
result, consequently. It shows the examiner you are using analysis or taking analysis
one step further.
No need for evaluation in this question
12 Mark Evaluation Questions
The b 12 mark question is an analysis question plus evaluation. Or to put it simply
it’s important but it depends questions.
Plan your answer before you begin. The question points you to including two points
of view, so make sure you include both for a balanced answer. Aim for two chains of
analysis for and against. It’s important to have balance, and show you understand
both sides of the discussion.
An easier structure to remember might be: It’s important because, and because of
this but it depends on this and on this, then finish with an evaluative Comment on
what is most important.
In this question we will aim for two points on why salary is the best payment
method for motivating employees of a shoe retailer.
Then two reasons why a salary is may not be the most effective payment method
for motivating employees of a shoe retailer. Work through the chain of analysis in
each paragraph.
To secure the evaluation marks you need a reasoned recommendation in context.
Check out this blog on evaluation. It is the most challenging skill, so I won’t go into it
too much detail here.
The key is to move beyond analysis and make substantiated judgements or
recommendations. Remember to focus on the question to ensure you answer is in
context, but you can also evaluate by explaining how your judgement will depend
on other important factors.
In this example, I have evaluated by explaining the most important factor in
motivating employees will depend on the individual, as all employees have
individual needs. Salary is important but must be part of a package of different
financial rewards to ensure all employees are motivated and perform to their full
potential.
Common traps to avoid in evaluation are writing a summary of what you have
written earlier in the essay, or basing your answer on opinions rather than
reasoned argument or evidence.